Maravai LifeSciences projects FY revenue near mid-range guidance; shares fall

SAN DIEGO - Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI), known for supplying reagents and services to the life science research and biotechnology sectors, has indicated its anticipated total revenue for the fiscal year 2024.

Shares fell 5% in after-hours trade Wednesday.

The company's preliminary year-end results, which are subject to standard year-end adjustments, suggest that its revenue is expected to align with the mid-point of its previously forecasted range of $255 million to $265 million.

This projection is positioned in the vicinity of the consensus estimate, which predicts a fiscal year revenue of approximately $260.78 million.

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Source: Investing.com